The $1-Billion Shark Trade: Can Conservation Keep Up?

Sharks and rays are more than the sum of their parts. Their ecological significance, cultural value, ..

. [+] and role in human livelihoods make them worth saving. In Oman, shark liver oil finds its way into traditional eyeliner.



In Indonesia, shark and ray skins are served as chips. Across the United States, skates are the seafood equivalent of buffalo wings, and mako and thresher sharks are also being featured in restaurant menus across the country. Meanwhile, Europe markets shark meat under misleading names like “European conger,” markets ray cheeks as a delicacy in Belgium, and offers stingray skin luxury bags alongside French veau de mer dishes.

In Thailand, ray and shark skins are turned into wallets and handbags. Even the corneas of shark eyes have reportedly been used for human transplants in Yemen, and shark cartilage is marketed as a panacea for various ailments. These are just some of the surprising uses of sharks, rays, and chimaeras, detailed in a new report that spans 158 countries and jurisdictions.

In fact, these examples barely scratch the surface of the diverse uses of these animals globally. Led by the IUCN Shark Specialist Group, this comprehensive document consolidates decades of research on the biology, fisheries, trade, and conservation of these animals. Spanning over 2,000 pages, it serves as a critical update to a 2005 report that first highlighted the rising demand for shark fins and the low conservation awareness surrounding rays and chimaeras.

Since then, the landscape has shifted dramatically. The global trade in shark and ray products has diversified and expanded. While the fin trade remains lucrative, the demand for shark and ray meat has surged, with its value now 1.

7 times that of fins. Combined with the burgeoning markets for products like liver oil, gill plates, and skins, the global trade in shark and ray products is worth nearly $1 billion annually. “Nearly 20 years after the first report, there have been drastic changes, with sharks and rays now among the most threatened vertebrates on the planet,” says Alexandra Morata, the IUCN SSC Shark Specialist Group program officer.

Overfishing remains the greatest threat, with 26% of species globally targeted and most others caught as bycatch, contributing to alarming population declines. Rhino rays, including wedgefish, as well as whiprays, angel sharks, and gulper sharks, are particularly vulnerable, having already suffered catastrophic losses. Nations like Indonesia, Spain, and India lead in shark fishing, with Mexico and the USA rounding out the top five.

Across Europe, you can sling a luxury stingray skin bag over your shoulder as you sample shark meat ...

[+] sold as European conger, order veau de mer in France, and find ray cheeks purveyed as a delicacy in Belgium. Ray and shark skins are fashioned into shoes, wallets, belts, handbags and purses in Thailand. Save Up To 75% With The Best Black Friday Clothing Deals That Are Still Running 10 Unofficial Hoka Cyber Week Sales You Don’t Want To Miss Yet, despite these grim statistics, two decades of research and significant policy changes have equipped governments with the tools to implement targeted conservation measures.

In Canada, the USA, and Australia, sustainable fisheries management practices are emerging as models. And research has expanded to previously inaccessible regions like Africa and remote parts of Asia and the Indian Ocean, providing a clearer picture of exploitation and its impacts. “The conservation and management of sharks is difficult for a variety of reasons, but many governments are breaking down the silos that separate how we deal with sharks and rays as fisheries resources, and as wildlife to conserve,” says Sarah Fowler of the Save Our Seas Foundation, who led the 2005 report’s publication and contributed to the latest version.

Fowlers explains that the report outlines country-specific recommendations aimed at making fisheries sustainable and preserving species for future generations. “This report is a call to action,” says Dr. Rima Jabado, chair of the IUCN SSC Shark Specialist Group.

“This report is a call to action so we can work together and make each of the country recommendations a reality, especially those relating to responsible fisheries management. It is the only way these species will survive and continue to thrive in aquatic ecosystems.” Sharks, rays, and chimaeras are among the most threatened vertebrates on the planet, yet their survival is essential for maintaining healthy oceans and supporting human livelihoods.

These predators play vital roles in marine ecosystems with some species cycling nutrients through the ocean, while others support carbon-sequestering habitats like mangroves, aiding in the fight against climate change. Sharks, rays, and chimaeras also underpin the food security of vulnerable coastal communities, with fishers in some developing nations reporting that over 80% of their income depends on shark and ray fisheries. Thus, the path forward requires commitment at all levels, from local communities to international bodies.

But as the report emphasizes, time is running out. As Dr. Jabado says, the clock is ticking.

“The message is clear. With the precarious state of many of these species, we can’t afford to wait.” Delaying action risks losing these species forever, along with the critical ecological and economic benefits they provide.

While progress has been made, the challenge now lies in turning research into results. And the report shows that solutions are within reach! The question remains: Will we act in time?.